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CompStak Office Market Overview Report
Office Market Overview Report
Looking to stay ahead in the ever-evolving office market? CompStak’s Biannual Office Market Overview Report provides essential insights and trends shaping the industry.
Download the report to learn how:
- U.S. office-using employment has shown remarkable resilience, rebounding to pre-pandemic levels within just 18 months;
- Remote work remains a significant factor, with around 30% of days spent working from home in 2023;
- 2024 and 2025 mark major years for lease expirations across major U.S. Gateway Markets, adding to market uncertainty;
- Average lease term for New York City’s Prime Class A transactions is seeing the most rapid recovery among building classes to pre-2020 figures, while those for Class B/C transactions still notably lag behind 2019 figures;
- The average concessions ratio peaked post-COVID at 13.5% on average for gateway markets in the fourth quarter of 2022, but slightly declined to levels at or close 13% in 2023;
- Indicating a potential market shift, the average effective rent for prime Class A office transactions in gateway markets is plateauing.
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